Bitcoin Forum

When it was in bull market - it felt like it'd never crash.

Now that it's a bear market - people feel like it'd never go up again.

The current state usually always feels permanent but of course, never is. Nobody knows if we're gonna go up or down but we do know that no state is permanent.

Yet people still panic sell ;D It's only natural, a lot of people have a hard time actually hodling

That is truth and there is actually a term for this in psychology. It is called "recency bias" and it essentially means what has been happening lately you think will continue to happen. This is not the case in life and unforeseen events occur, and the trajectory often changes. Read more: https://ycharts.com/glossary/terms/recency_bias

And to take this a step further, studies on this find people tend to want to sell in bear market lows and buy in bull market highs ... pretty much the opposite of what you should be doing.

Thanks for your thoughts.

I would like to add. It seems that "Bull time" was for a short period of time and "bear time" ends forever))

And we are likely to be "surprised" (again) after all the weak hands have sold of their crypto. ;)

Exactly, you are right. Nobody knows what will happen next. That is why cryptocurrency cannot totally predicted. Every prediction is a probability. There has been a downward trend all the while, with little upward trend. We all hope that the rise will start soon.
Whatever happens, we know that no condition is permanent. Instead of being afraid of the unknown, we should all try as much as possible to learn how to adapt to the situation at hand. I believe the best is about to come.

True and a lot of people have extreme difficulty timing their entries and exits so both scenario's are often exegerrated by Fear or panic. But then again, even if it isn't permanent you don't know how long it can last. I doubt many have the patience to hold trough a 2 year bear market with constant decline. Its best to know when to exit and get back in so you don't have to suffer.